The smallest of the UAE states has sealed a key project which will transform its tourism and leisure industry. Tanmiyat Group announced its Ajman Marina project had taken a giant step forward with the registration of development plots.The residential and commercial development will cost $3 billion (£1.5 billion) to build and will be constructed in two phases.
Ajman itself represents an up-and-coming prospect for UAE property investment professionals, smaller than Dubai and still making its way into the international limelight. Abdullah Al Majed, of Ajman Marina’s board of directors, said:
“Ajman Marina is one the most exciting projects in the region at the moment, and we are extremely proud to take this step forward, and to have been given this opportunity.”
Construction of a dedicated sales centre for the development is now under way, with 8,000 freehold residential units set to make up the project.The development will also feature a yacht club and residential towers with a view of the marina, plus leisure and commercial facilities.
It is set to be fully complete by 2013 with Tanmiyat vowing to make the marina “a fully complete city including amenities for all family members”.